[ad_1]
Axis Bank sold 4.95% of the capital of National Securities Depository Limited (NSDL) to its neighboring bank HDFC for a consideration of 163.34 crores.
After the sale, Axis Bank would have a 0.05% stake in NSDL. the lender said in a document.
The main activity of the NSDL is the provision of deposit services.
Axis Bank sold 19,799,900 shares at a price of 825 rupees per unit.
With this acquisition, HDFC Bank will increase from the current percentage of 5% to 9.95%.
According to a document filed by HDFC Bank, NSDL is a custodian and, therefore, to increase the bank's stake in the entity beyond 5%, no objection has been received from the share of the Securities. and Exchange Board of India (SEBI).
[ad_2]
Source link
